This week my equity increased from $39071.77 to $39584.47. The key point is the golden principle—“Buy Low Sell High”.
The form below shows the movement of my trading account during this week.
Date | Symbol | Status | Price in | Price out | Gain/Loss |
10.18 | W4K | Short | 860.25 | ||
11.15. | W4K | Offset | 860.25 | 855.5 | +237.5 |
11.16. | S3F | Long | 1368 | ||
W4H | Long | 848 |
1. Why go long soybeans on Nov.16th
The USDA’s November forecasts of the size of the 2012 U.S. corn and soybean crops were larger than expected, particularly for soybeans. As a result, the general downtrend in soybean prices since mid-September has accelerated, with January futures now at the lowest level since June 29.
Because of this news, last two weeks the price of soybeans has experienced a big drop. So I thought the speculator way to picking the bottom of falling markets.
2. Why go long wheat on Nov.16th
On Nov 15th , there is a news that U.S. wheat feed and residual usage will reach 315 million bushels this year, far surpassing the 150 million-bushel average for the last 10 years. That means wheat for Livestock Feed Estimated to Rise Sharply. ( According to World Agricultural Supply and Demand Estimates (WASDE) referenced by Lisa Elliott, a commodity marketing specialist and assistant professor at South Dakota State University. )
So I went long on wheat expecting to pick the bottom of falling wheat markets too.
Great analysis from the information out there Jessy! Hope it leads to more profit for you as the trading game comes to a close. Great job!